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Last updateThu, 26 Apr 2018 2pm

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End-User News

Permian ‘Super Basin’ Holds Trillions in Untapped Oil

Energy researchers at IHS Markit have completed the first, three-year phase of a massive Permian Basin research project that models and interprets the giant basin’s key geologic characteristics to better estimate its remaining hydrocarbon potential, and initial results indicate the giant basin still holds an estimated 60 billion to 70 billion barrels of technically recoverable resources.

“The Permian Basin is America’s super basin in terms of its oil and gas production history, and for operators, it presents a significant variety of stacked targets that are profitable at today’s oil prices,” said Prithiraj Chungkham, director of unconventional resources at IHS Markit. “In this analysis, we’ve modeled and interpreted more than 70 formations and benches across the Permian Basin and have delivered them in a work-station-ready 3D format, so Permian operators or new-entrants can fast-forward their analysis.” 

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